The euro slipped even further against the dollar Monday June 7, 1999 as hopes receded for peace in Kosovo. The dollar fell against the yen.
The standoff with Yugoslav President Slobodan Milosevic over
implementing the Kosovo peace agreement reached last week caused further jitters over Europe's new currency, which has been
suffering since its debut in January.
Traders said the euro could fall even further against the dollar
unless some good news comes soon. Signs of weakness in major
European economies such as Germany have also darkened the outlook for the young currency.
The yen, meanwhile, gained some ground against the dollar on
reports that Japan's government may implement further fiscal
stimulus measures in hopes of reviving that country's moribund
economy. (AP)